FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

ssi_usd-chf_body_Picture_2.png, FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

USDCAD Retail forex trading crowds have increased their net-long US Dollar (ticker: USDOLLAR) position against the Canadian Dollar, and a contrarian view of crowd sentiment favors USDCAD declines.

Crowd net positioning is now at its most bullish since the pair traded below C$0.9900 in October, and such one-sided sentiment warns that the pair could continue lower.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.170.00+3.03%
    N21.SI
    0.965-0.030-3.02%
    G13.SI
    0.860.00-0.58%
    Y92.SI
    0.380.00+1.33%
    5ME.SI
    0.440.000.00%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.30+0.07+30.43%
    BLZ.SI
    0.42+0.04+10.53%
    BEH.SI
    0.31+0.03+8.77%
    42C.SI
    0.405+0.015+3.85%
    BDF.SI
    0.186+0.011+6.29%
    F86.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.149-0.011-6.87%
    M11.SI
    0.595-0.025-4.03%
    BEV.SI
    0.735-0.025-3.29%
    BCX.SI
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    NR7.SI
    0.965-0.030-3.02%
    G13.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4242+0.0003+0.02%
    USDSGD=X
    1.5107-0.0002-0.01%
    EURSGD=X
    1.7935+0.0038+0.21%
    GBPSGD=X
    80.2960+0.173+0.22%
    SGDJPY=X
    5.4443+0.0016+0.03%
    SGDHKD=X
    3.1025-0.003-0.10%
    SGDMYR=X
    9,357.6348+23.7832+0.25%
    SGDIDR=X
    4.8418+0.0121+0.25%
    SGDCNY=X
    1.0625+0.0014+0.13%
    AUDSGD=X
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    NamePriceChange% Chg
    1,166.40-3.40-0.29%
    GCZ16.CMX
    17.01-0.01-0.09%
    SIZ16.CMX
    82.57-0.01-0.01%
    ^XAU
    2.64+0.02+0.78%
    HGZ16.CMX
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    CLF17.NYM
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    ^FVX
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